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ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU)

Mar, 31, 2022 — ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) is a federal credit union headquartered in BLOOMFIELD, NJ with 2 branch locations and about $26.53 million in total assets. Opened 86 years ago in 1936, ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION (ECTFCU) has about 4,170 members and employs 11 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


Name:ESSEX COUNTY TEACHERS FEDERAL CREDIT UNION
Address:
(Main Office)
125 Franklin St
BLOOMFIELD, NJ 07003-5730
Phone:(973) 748-8847
Fax:(973) 748-8846
Website:http://www.ectcu.org
Branches:2 branch locations
Members:4,170
Credit Union Type:Federal Credit Union
Charter Number:1131
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1936
Last Audited:Jun 01, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$26,529,661
CEO/Manager:Robert D Steeves
Chairperson:Kenneth King

Call Report

  • Credit Builder
  • Payday Alternative Loans (PAL Loans)
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 950,027
TOTAL INVESTMENTS 0
Loans Held for Sale 0
 
 Real Estate Loans 2,051,058
 Unsecured Loans 5,231,429
 Other Loans 5,179,064
 TOTAL LOANS 12,461,551
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -114,982
 Land And Building 159,081
 Other Fixed Assets 38,189
 NCUSIF Deposit 209,616
 All Other Assets 0
  TOTAL ASSETS 26,529,661
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 500,000
 Accounts Payable & Other Liabilities 578,639
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,930,879
 Regular shares 18,568,131
 All Other Shares & Deposits 3,395,111
  TOTAL SHARES & DEPOSITS 23,894,121
  TOTAL LIABILITIES 24,972,760
 Regular Reserve 0
 Other Reserves 0
 Undivided Earnings 1,556,901
  TOTAL EQUITY 1,556,901
  TOTAL LIABILITIES, SHARES, & EQUITY 26,529,661
INCOME & EXPENSE  
 Loan Income 184,740
 Investment Income 30,270
 Other Income 32,200
 Total Employee Compensation & Benefits 111,529
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 85,650
 Non-operating Income & (Expense) 0
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 7,500
 Cost of Funds 5,394
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 48,503
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